Vancouver, BC, March 28, 2012 — GreenAngel Energy Corp (“GreenAngel”) (TSX-V: GAE) reports that it has entered into an advisory agreement to assist Mazza Innovation Ltd in its corporate finance and technology commercialization activities in exchange for up to 480,000 Mazza shares, representing approximately 10% of the issued shares in the company.
Mazza, based in Summerland, BC, is developing a novel pressurized low polarity water (PLPW) extraction technology to acquire high-value phytochemicals from plants that can be incorporated into products such as foods, pharmaceuticals and cosmetics. Mazza enables manufacturers to produce innovative, high-quality products that are environmentally sustainable and with energy and cost savings.
As part of the new relationship, GreenAngel is leading an effort to raise an initial angel financing round for Mazza totaling $300,000, including an initial commitment of $100,000 combined from GreenAngel Technology Ventures (VCC) Corp and WUTIF Capital (VCC) Inc. In addition, GreenAngel board member, Al Werenko, will be joining the board of Mazza to provide governance and to lead the GreenAngel contribution to Mazza’s growth.
“GreenAngel brings a vast amount of international strategic experience and business acumen, especially in Cleantech commercialization, and will certainly be an invaluable addition to Mazza as we scale our working demonstration to early commercial sales. I am delighted to have this opportunity to join the GreenAngel family and fully leverage the experience and network of the GreenAngel team,” said Mazza founder and CEO Dr. Joe Mazza.
Comments Michael Volker, Chairman of GreenAngel, “GreenAngel is well-positioned to take a disruptive technology like Mazza’s and work with the inventor to commercialize the extraction technology and get it to market quickly. This patented process is expected to reduce current energy demands and produce a healthier end-product for final consumers.”
Read the GreenAngel Energy Blog post explaining phytochemicals and the Mazza extraction process.
About Mazza Innovation
Mazza Innovation was founded in 2011 by Dr. Joe Mazza. Dr. Mazza has extensive research experience in the areas of phytochemistry and engineering/processing of foods and food ingredients, including ‘green” extraction, fractionation and purification processes for biochemicals from crops and crop residues, and functional properties and applications of these compounds as industrial bioproducts, as well as nutraceuticals and functional food ingredients. He is a widely cited researcher and book author as well as the lead inventor on several patented products/processes in Canada and United States and has contributed significantly to the development and commercialization of several technologies dealing with value-added processing of plant products. In 1992 he received the Public Service of Canada Merit Award for his outstanding research, and was the 1994 recipient of the W. J. Eva Award of the Canadian Institute of Food Science and Technology (CIFST) for his contributions to food science in Canada through outstanding research and service. In 2002, Dr. Mazza received the Queen’s Jubilee Medal for his work in the area of functional foods and nutraceuticals. In 2005, he was named by the Information Sciences Institute (ISI) as a world’s most cited and influential researcher in Agricultural Sciences, and in 2006 he was elected Fellow of the International Academy of Food Science and Technology (FIAFoST)
About GreenAngel Energy
GreenAngel Energy Corp. is the first publicly traded company that invests solely in emerging private green technology companies. We provide an avenue for public investors to gain access to a portfolio of the most promising angel-stage investments across a spectrum of green technology sectors. Our focus is commercializing new technologies that produce renewable energy, improve energy efficiency, or use renewable energy resources such as water, wind and solar. We also work with companies that deploy or manage technologies and processes that reduce greenhouse gas (GHG) emissions. In addition to providing strategic capital to investee companies, GreenAngel also mentors and advises investees to help ensure these companies achieve commercial success. The firms include Delaware Power Systems, Light-Based Technologies, Habitat Carbon Assets, Rapid Electric Vehicles, DPoint Technologies, and Paradigm Environmental Technologies.
ON BEHALF OF THE BOARD
Bob de Wit
CEO and Director
For further information, contact:
Bob de Wit, CEO
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s listing of its common shares on the TSX Venture Exchange. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.